Good Morning! Merry Christmas, Happy Hanukkah, and I hope the rest of us who celebrate Festivus all have a great weekend. May your stockings be filled with Porsche parts. We'll see you Tuesday for the next Market Letter as there aren't any sales for the next two days. But not to worry, the action over the next week looks pretty good based on the new listings below.
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THE MARKET
Sell-Through Rate: 62%
Market Volume ($): $390,950
Market Volume (units): 13
- The holiday slow-down is real with only a handful of cars on offer and 62% of those selling for a total of less than $400k. Only 1 car sold for over $100k and Bring a Trailer isn't dominating the top 5 slots.
TOP SALES
1979 Porsche 911 Turbo $131,000 Bring a Trailer
2017 Porsche Panamera Turbo $60,000 Cars & Bids
1973 Porsche 911T Targa 5sp $55,000 PCARMARKET
1989 Porsche 911 Targa 5sp $51,750 PCARMARKET
2016 Porsche Macan S $33,000 Cars & Bids
SPOTLIGHT
PHOTO CREDIT PCARMARKET
2016 911 GT3 RS' have straddled the average price line of $200,000 for the better part of two years. Low mileage and PTS cars above the line, higher mileage (>8,000), and normal cars below that line. So you would expect our Spotlight car, a 2016 GT3 RS in PTS Voodoo blue and 14,000 to be on-trend and sell for +/- $200,000.
The last 991 GT3 RS sale with roughly 14,000 miles sold for $180,000 and was finished in one of the launch colors, Lava Orange. Being PTS Voodoo Blue, you'd expect a little bump. So $190? $195? Buuuuut and this is a big but, our car is equipped with standard brakes instead of Carbon Ceramics and it seems our bidders took this to the heart resulting in a final bid of $187,000.
On the other hand, the selling dealer thought the car was worth more and now has it listed for $200,000 in PCARMARKETS Deal Tank. A bit steep if you ask me, I think the final bid was right on the money. Let's see if they change their mind before that average price line drops.
NOTEWORTHY SALES
- This price of $66,500 for a 2021 718 Boxster T pretty much set the market as there aren't any other listings. Seems like a great buy for a low-production, fun little car that was over $80k when new.
- Now that original Boxsters are in the upper teens and low $20's for example, it seems that the 968 Cabriolet has slotted into the low teens' drop-top territory with this 1994 968 Cabriolet selling for $13,600.
- A fair deal at $55,000 for the beautiful Blue-Green 1973 911T Targa we were watching this week. Plenty of service work and functional upgrades make this car a very solid driver that the new owner can enjoy. Well-bought for sure.
NEW LISTINGS
- After lingering on the selling dealer's website since September, is it a good idea to list this 2018 GT2 RS Weissach with a number of no sales in the past month?
- Looks like we'll get to see if the market adds "celebrity money" to this 1974 911 built by Magnus Walker.
- 53,500 miles is quite a bit on a 2019 Porsche. I bet they were very fun miles behind the wheel of this 718 Cayman GTS listed on Cars & Bids.
AUCTIONS ENDED 12/23
2018 Porsche 911 GT2 RS Weissach $370,000 Bring a Trailer
2016 Porsche 911 GT3 RS $187,000 PCARMARKET
1979 Porsche 911 Turbo $131,000 Bring a Trailer
2016 Porsche 911 Turbo S Coupe $121,911 Bring a Trailer
2019 Porsche Panamera GTS $75,000 PCARMARKET
2021 Porsche 718 Boxster T 6sp $66,500 Bring a Trailer
2017 Porsche Panamera Turbo $60,000 Cars & Bids
1973 Porsche 911T Targa 5sp $55,000 PCARMARKET
1989 Porsche 911 Targa 5sp $51,750 PCARMARKET
2016 Porsche Macan S $33,000 Cars & Bids
2009 Porsche Cayenne S $24,100 Bring a Trailer
2000 Porsche 911 Cab. 6sp $22,500 Cars & Bids
1994 Porsche 968 Cab. $13,600 Bring a Trailer
*Prices in Red denote a high bid and no sale
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